$330m Japan deal 'strengthens' Uranium One

The mining company Uranium One says its newest $330 million deal with a Japanese consortium will help make life much easier for it.

The consortium is made up of the Tokyo Electric Power company, Toshiba Corporation and the Japan Bank.

It can buy up to 20 per cent of Uranium One's available production from some of its assets.

Uranium One's Australia vice-president, Greg Cochran, says the deal will not affect its recent agreement with the Japanese company Mitsui, which holds a 49 per cent stake in Uranium One's Honeymoon Mine Project, west of Broken Hill in far western New South Wales.

"They recognise that it actually gives Uranium One Inc, the parent company, puts us in a much more sound financial, stronger financial position and gives us a stronger balance sheet," he said.

"Therefore they see it as they have a stronger partner, partnering with them in Australia."